Block reported better-than-expected second-quarter results with gross profit up 25% year over year to $3.17 billion. The company also exceeded guidance on adjusted operating income, which reached $855 million, and on adjusted diluted earnings per share, which came in at $1.02 versus a Wall Street consensus estimate of 87 cents. These results led Block to raise its full-year gross profit guidance to $12.51 billion and its adjusted operating income guidance to $3.47 billion. The fintech company also said agentic AI helped write and review nearly all production code changes in June, months after it cut 4,000 jobs in February as part of an AI-led restructuring.
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